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From Phoenix Wallet to self hosted LND node on Start9

349 sats \ 7 comments \ @martinbarilik 3h lightning

Good Day Everyone !

Couple of questions come to my mind when thinking about selfhosting Lightning node. I have Start9 One for quite some time and it feels I do not use a full pontentiol of it yet. Last checkbox I have to check is Lightning node. I am quite aware of the network in regards of technicalities. But ...

I've been using Phoenix Wallet for years, been quite satisfied with it, got some liquidity and also paid additional fees to increase inbound liquidity as weel ( just to be sure i've got enough when needed ).

Now, let's say I've got 2M sats sitting in it, with 1M inbound in reservers.

Should I sent all to on-chain lnd node and open one big channel to Start9 node with 2M outbound liquidity ?

Or should I split in two 1M, and open one with Start9, one with ACINQ ?

Yes, now i won't have any inbount liq to receive any sats whatsoever, i do not use lightning much, i live in area where bitcoin is well ... not known :D

In regards of inbound liq, should i use phoenix for it until i get some in my node ?

My understanding is 3 channels are super sufficient long term, so in future with 2M outbound i'd be good.

What are advantages of having self hosted node here apart from privacy points ? Less fees ? I will have to do start9 backups everytime i do buy anythink to keep history up to date.

I don't know, hasitating for a long time now. I am gonna reward some most usefull answers with some sats :)

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100 sats \ 1 reply \ @SHA256man 2h

Phoenix with ACINQ will give u a really high payment success rate and easy integrated "swaps" on/off-chain using splicing;

the downside of Phoenix is less privacy (since everything is routed thru ACINQ node) and higher routing fees;

Start9 thru Tor and ur own hand-picked peers will probably make u struggle; Tor performance is variable, and picking peers is an art; altho i know people with Start9 who don't have issues routing payments thru Tor using their public (announced) channels, i don't think that's the norm; u want a good LN experience, especially for demonstrating to someone the power of bitcoin, wen opportunity arises;

all-in-all, be not afraid of testing the various tools; u will pay sats for the education, and become more confident; even the custodial CoinOS.io is great for quick payments from any internet-connected computer; u shud be able to use bitcoin whenever, wherever; do not put all ur sats in one lightning basket;

read Darthcoin guides for more detail;

11 sats \ 0 replies \ @DarthCoin 1h

101 sats \ 2 replies \ @DarthCoin 3h

Should I sent all to on-chain lnd node and open one big channel to Start9 node with 2M outbound liquidity ?

NO. First and foremost ask yourself: what type of LN node you want to run on that Start9 box, private or public? Because each type have its own meaning and use case and a different liquidity management.